Debt burden unbearable to the country was inherited from the previous government


Fitch said the rating action reflects increasing refinancing risks.

Further, the sovereign’s external liquidity position remains strained, reflecting pressure on foreign exchange reserves.”

Meanwhile Finance Minister Ravi Karunanayake said that the former Government had obtained limitless loans unbearable to the Government.

Participating at a media briefing held at the Finance Ministry yesterday the Minister said that the International Monetary Fund too had queried about this.

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